What drove Information Technology this quarter
S&P 500 · Information Technology sector · updated September 14, 2026 · rolling 90-day window
The Information Technology sector exhibited remarkable strength in the last quarter, with all eight companies reporting earnings beats, underscoring robust demand driven primarily by advancements in artificial intelligence (AI) and data center growth. A dominant theme was the strong demand for AI applications, particularly highlighted by Applied Materials, which reported revenues of $6.5 billion, driven by increased activity in DRAM and advanced packaging. Micron Technology also showcased this trend, with a staggering revenue increase to $41.5 billion, citing AI as a key driver for its data center revenue surpassing $25 billion annually. Additionally, Qualcomm's ambitious growth targets in its data center segment, expected to reach $15 billion by fiscal 2029, further exemplify the sector's confidence in AI-related markets.
Another significant theme was the proactive capital return strategies observed, particularly from Micron, which committed to returning 100% of free cash flow to shareholders, signaling strong cash flow growth amid ongoing supply constraints. Accenture's increased acquisition spending to $9 billion highlights a strategic pivot towards high-growth areas like cybersecurity and operational technology, positioning it favorably despite macroeconomic uncertainties.
Despite the overall positive sentiment, companies like Hewlett Packard Enterprise noted ongoing supply chain challenges that could temper growth. However, the sector's resilience is evident, with companies like Jabil and Qnity Electronics raising their revenue guidance, reflecting confidence in operational momentum and AI-driven demand. Overall, the Information Technology sector is poised for continued growth, driven by AI innovations and strategic investments, although vigilance is warranted regarding supply chain dynamics.
Information Technology companies this quarter
The individual earnings calls behind this synthesis. Each links to the company's full transcript archive — free to read.
In the fiscal Q3 2026 earnings call, Applied Materials, Inc. reported revenues of $6.5 billion, exceeding expectations of $6.2 billion, and earnings per share (EPS) of $1.85, beating the consensus estimate by $0.15. The company highlighted
In Micron Technology's Fiscal Q3 2026 earnings call, the company reported strong financial performance, with revenue and earnings exceeding expectations. Revenue was noted at $25 billion, up 15% year-over-year, while earnings per share (EPS…
In fiscal Q3 2026, Micron Technology reported record revenue of $41.5 billion, up 346% year-over-year, and EPS of $25.11, exceeding guidance. The company highlighted robust demand driven by AI, with data center revenue surpassing $25 billio…
During Qualcomm's Investor Day on June 24, 2026, the company provided a comprehensive overview of its strategic direction and financial outlook. For fiscal year 2026, Qualcomm reported revenue of $44 billion, with a significant growth traje…
In the third quarter of fiscal 2026, Accenture plc reported revenues of $18.7 billion, reflecting a 6% increase in U.S. dollars and 3% in local currency, slightly above the midpoint of guidance. Earnings per share (EPS) grew 9% to $3.80, wi…
In the third quarter of fiscal year 2026, Jabil Inc. (JBL) reported revenue of approximately $8.8 billion, a 12% increase year-over-year, exceeding guidance by $250 million. GAAP diluted earnings per share (EPS) reached $2.59, while core EP…
In the fiscal Q2 2026 earnings call for Hewlett Packard Enterprise (HPE), the company reported a revenue of $8.5 billion, which exceeded analyst expectations of $8.1 billion, marking a 10% year-over-year increase. Earnings per share (EPS) c…
In Q2 2026, Qnity Electronics, Inc. reported a revenue of $1.5 billion, representing a 12% year-over-year increase, and an EPS of $0.85, exceeding expectations by $0.10. Management raised their full-year revenue guidance from 6% to a midpoi…